TTM Technologies Inc (TTMI)

Solvency ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Debt-to-assets ratio	0.28	0.26	0.27	0.28	0.26	0.28	0.29	0.30	0.31	0.30	0.31	0.31	0.29	0.27	0.23	0.35	0.34	0.42	0.43	0.43
Debt-to-capital ratio	0.38	0.37	0.36	0.37	0.36	0.38	0.39	0.39	0.39	0.39	0.39	0.39	0.37	0.38	0.37	0.49	0.49	0.54	0.54	0.54
Debt-to-equity ratio	0.61	0.58	0.56	0.58	0.57	0.61	0.63	0.64	0.64	0.63	0.63	0.64	0.58	0.60	0.58	0.96	0.96	1.18	1.20	1.19
Financial leverage ratio	2.20	2.18	2.04	2.08	2.16	2.16	2.18	2.10	2.08	2.08	2.06	2.06	2.01	2.25	2.51	2.76	2.78	2.80	2.80	2.78

TTM Technologies Inc's solvency ratios indicate the company's ability to meet its long-term financial obligations. The debt-to-assets ratio has remained relatively stable around 0.27 to 0.28 over the past few quarters, indicating that the company finances about 27% to 28% of its assets through debt.

The debt-to-capital ratio has also shown consistency, hovering around 0.36 to 0.39, which suggests that TTM Technologies uses debt to finance approximately 36% to 39% of its capital structure.

The debt-to-equity ratio demonstrates a similar trend, fluctuating between 0.56 to 0.64. This indicates that the company's shareholders hold between 56% to 64% of the equity, while the remainder is financed through debt.

The financial leverage ratio has shown some variability, ranging from 2.01 to 2.80. This ratio indicates that TTM Technologies' financial leverage has ranged from 2.01 to 2.80 times over the quarters, implying the proportion of total company assets financed by debt.

Overall, TTM Technologies Inc maintains a relatively stable solvency profile, with a reasonable mix of debt and equity in its capital structure to support its operations and growth.

Coverage ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Interest coverage	1.01	2.39	3.74	4.25	5.02	3.68	3.10	3.00	2.54	2.29	0.93	3.20	3.02	3.00	3.79	1.56	1.53	1.49	1.65	1.83

The interest coverage ratio for TTM Technologies Inc fluctuated over the past few years, indicating varying levels of the company's ability to cover its interest expenses with its operating income. The ratio stood at 1.01 at the end of December 2023, which indicates that the company barely generated enough operating income to cover its interest expenses. This demonstrates a relatively risky financial position.

In general, it can be observed that the interest coverage ratio has been fluctuating between 0.93 and 5.02 over the past five years. It reached its peak at 5.02 at the end of December 2022, indicating a strong ability to cover interest expenses, while hitting its lowest point at 0.93 in June 2021, signalling a potential struggle to cover interest costs with operating income during that period.

The trend between December 2019 and December 2023 shows some fluctuations but seems to have stabilized towards the 2-4 range in recent periods. This suggests that TTM Technologies Inc may have improved its operating income relative to its interest expenses, but there still may be some volatility that needs to be closely monitored. Overall, the interest coverage ratio provides insights into the company's ability to service its debt obligations and manage its financial risk.